More about mining in Africa:
How does South Africa benefit from mining?
Mining is a major economic activity in South Africa, contributing approximately R350 billion to the country’s GDP. There is an estimated R35 trillion worth of mineral resources still to be mined, and this will create wealth and employment for decades to come. South Africa is a leading producer of PGMs, gold, diamonds, vanadium, manganese, chromium, ilmenite and more.
Why gold mining is important in South Africa:
Gold sales of R72.6 billion were recorded in 2019 (a 3.7% increase from 2018). Although no longer the world’s largest gold producer, the gold mining sector remains a significant contributor to South Africa’s GDP. The country’s gold mines have also been a centre for mining and beneficiation technology advances, including the BIOX® (Biological Oxidation) process, developed at Pan African Resources’ Barberton Mines.
How does mining contribute to the economy of South Africa?
The mining industry contributes approximately 7% to South Africa GDP (gross domestic product) – approximately R350 billion – and employs over 450 000 people. Although the country’s economy has diversified and mining is not the primary economic sector, it remains a critical part of the country’s economic make up. South Africa boasts the largest precious metals industry in the world through its gold and PGM riches.
How many mines in South Africa?
There are currently approximately 200 operational mines in South Africa, with almost 350 mining projects currently in various phases of development. Mines are concentrated in the central and north-eastern sections of the country.
How many gold mines in South Africa?
South Africa has 28 operational gold mines, and almost 60 mining projects in various stages of development. Gold mining in South Africa is centred mainly on the Witwatersrand Basin reefs, as well as the Barberton Greenstone Belt, both in the interior of the country.
Pan Africa Resources has completed a feasibility study for the Egoli Project, an extension of Evander Gold Mines in Mpumalanga Province, which found the project to be viable with potentially compelling economic returns. Currently exploring several non-dilutive funding options for the R750 million project, we are confident that the Egoli project will be an important strategic addition to our competitive mining portfolio. A recent reprioritisation of our assets and mining sequence means Pan African will mine the 24, 25 and 26 Levels at Evander over the next ten years and concurrently fund the development of the Egoli Project, which will increase the life of the Evander operations even further.
Supplementary projects include conducting a feasibility study into a solar-powered generation plant at Evander Mine, allied to our overall biodiversity and sustainable energy objectives and reducing our mining footprint.